The International Organisation of Vine and Wine (OIV) published last April the 2024 global data for the wine sector.
Global wine situation in 2024
To produce this snapshot of the sector, the OIV has published its statistics on production, consumption and trade, covering all producing and consuming nations (more than 180).
These data highlight the effects on the sector of climate change, changing consumer preferences and geopolitical uncertainty.
According to the OIV’s Director General, John Barker, “Working hand in hand to develop solutions to climate change and make wine a model of sustainability, investing in research on new audiences in order to be able to see wine through their eyes, strengthening our commitment to multilateralism and world trade: these are all elements that will advance the wine sector.”
A sharp fall in consumption
In 2024, global wine consumption is estimated at 214 million hectolitres, a fall of 3.3% compared with 2023, its lowest level for more than 60 years. This decline is explained by economic and geopolitical factors but also by societal factors such as the decline of mature major markets and the behavioural changes of younger generations. It should nevertheless be noted that many countries have growing consumption, with strong potential for increase in some very populous countries. Overall, the balance of the world market should be maintained in 2024, after 2 years of low production, despite stocks that vary from region to region.
Find the full article at: Global wine situation in 2024 | Echos de Bordeaux – Agence Fleurie
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